Arch Completes Redemption Of Preferred Shares
Arch Capital Group has completed the redemption on Sept 30th of all 18,000 of its outstanding 5.25% Series E Non-Cumulative Preferred Shares.
A spokesperson said, “Arch Capital Group Ltd. announced that it completed the redemption on Sept. 30, 2021 of all 18,000 of its outstanding 5.25% Series E Non-Cumulative Preferred Shares represented by 18,000,000 depositary shares, each of which represents a 1/1,000th interest in a Series E Preferred Share and together with the Series E Preferred Shares, the “Shares”].
“All of the Series E Preferred Shares were redeemed at a redemption price equal to $25,000 per Series E Preferred Share The Redemption Price was paid on the Redemption Date to holders of record of the Shares on the Redemption Date. Record holders of the Shares as of Sept. 15, 2021 were also paid the previously announced dividend for the third quarter of 2021 of $328.125 per Series E Preferred Share [or $0.328125 per Depositary Share] on the Redemption Date.
“On the Redemption Date, the Shares ceased to be outstanding with no further dividends to be accrued or paid thereafter.”
